Classification of Interests in Real Property

Freehold Estates
1. Fee Simple
  1. Fee Simple Absolute
    1. Not defeasable
  2. Fee Simple Defeasable
    1. Fee Simple Determinable
      1. possibility of revertor
      2. "So long as"during"until"while"
    2. Fee Simple Subject to Condition Subsequent
      1. Estate terminates upon happening/non of stated contingency
      2. "On condition that"subject to the condition"but if"
      3. Not automatic reversion, but right of re-entry
2. Fee Tail
  1. Common Law-"to the heirs of his body"
  2. Per autre vie- life estate measured by life of another
  3. modernly obsolete
3. Life Estates
  1. curtsey and dower obsolete
  2. Upon death life estate passes to heirs
4. possession under legal title carving out ownwership over time
Non Freehold Estates
1. mere possession-no legal title
  1. ll require written instrument to comply with Sof F
    1. Duties and responsibilities of tenant
      1. pay rent, make ordinary repairs and quit premises in timely manner
        Cannot commit waste
        voluntary
        injury to land-extraction-liable
        emeliorating
        beneficial changes- not liable
        permissive
        equitable
        destruction, decay waste
      2. liable to 3rd parties
2. Tenancy for Years
  1. specific period of time terminable at some date or event
  2. more than 1 year
3. Tenancy from period to period
  1. automatic renewal year to year, mo to mo
  2. Modernly-1 yr termination requires 1 mo notice
4. Tenancy at Will
  1. No fixed duration- termination agreed by both landlord and tenant
  2. Termination w/ notice for sale or death of either party
5. Tenancy at Sufference
  1. wrongful hold over on prop
  2. landlord option to evict or extend
Concurrent Estates
1. Joint Tenancy
  1. Survivor retains rights of deceased joint tenant
  2. unities-time, title, interest and possession required + owner's intent in a deed
  3. Co-ownership/undivided interest
    1. Modernly disfavored
  4. Terminated by an agreement inter vivos or partition or mortgages
2. Tenancy by the Entirety
  1. Married couple
  2. unities-time, title, interest and possession and person required + reference to marriage
  3. By the whole- no rights of partition
  4. Severance by right of survivorship or divorce
  5. immune from individual creditors, but not taxes
3. Tenancy in Common
  1. No right of survivorship
  2. ownership in part but can be in total possession- consideration in proportion to property
  3. freely alienable
  4. Subject to creditors
  5. Modernly- Automatically presumed if mot written
  6. merger when title vests in one person through sale
4. Rights and duties of tenants
  1. may compel contribution from co-tenants for taxes
    1. but not for repairs
  2. right to possess whole estate and retain profits,
5. ownership by 2 or more persons
Non-Possessory Interests
1. Easements
  1. Appurtenant- runs with the land and requires two parcels
    1. Dominant
    2. Servient
  2. In Gross- Can run w/ the land only oneparcel
    1. Servient
  3. Negative
    1. prevents serviant tenament from doing some act or use of- don't build yr building too high
  4. Affirmative
    1. gives a right of affirmative use to dominant tenement owner- pathway to driveway
  5. Implication
    1. In subdivision schemes
    2. Easement by necessity by grant or reservation
  6. Prescription
    1. 5 elements- adverse use, open,notorious,continuous, for the statutory period
  7. Easements Extinquished by merger, written release, abandonment, prescription, destruction, estoppel, or condemnation(eminent domain)
  8. rt to enter land of another w/out trespass
    1. for limited use, ingress egress
2. Profits
  1. Rt. to enter land to extract r remove something
3. Covenants running with the land
  1. 1) Signed writing-complies with SofF
  2. 2) Must be the intent of "assigns" or "Successors" intend to run w/ the land
  3. 3) Must touch and concern the land- increase or curtail value and use
  4. 4) privity of estate- interest from one contracting party toanother
  5. between a contract and an easment
    1. not an interest in the land
  6. extinguished by merger abandonment estoppal release
  7. breaches recoverable like contracts
4. Equitable Servitudes
  1. 1) Signed writing-complies with SofF
  2. 2)Intention- determine who may enforce
  3. 3)Noticeof the existance of the servitude written or constructive
  4. land use restrictions enforcible in equity
5. Licenses
  1. Permission to enter land w/out tresspass
    1. Irrevocable if coupled w/ an interest
  2. does not have to comply w/ SofF
Future Interests
1. Reversions
  1. Estate remaining in grantor who as conveyed a lesser estate
2. Possibility of reverter
  1. Estate remaining in grantor who as conveyed a determinable estate
    1. or a fee simple determinable
  2. ripens upon occurence of stated event
  3. Automatic reversion
3. Right of Re-entry
  1. grantor retains the option to re-enter
  2. subject to a condition subsequent
4. Remainders
  1. Contingent
    1. uncertain if it will become possessary
    2. subject to condition precedent that terminates previous estate
  2. Vested
    1. automatic at termination of the estate
    2. vested subject to divestment
    3. vested subject to partial divestment
  3. Interest in3rd person effective after natural termination of previous fee tail or life estate
  4. created at the same time in the same instrument as the previous estate of lessor duration than conveyor
5. Executory Interests
  1. Upon happening/non of stated event estate goes to third party/second grantee
  2. shifting
  3. springing requires a time lapse before estate goes to 2nd grantee
Rights Incident to Possession
1. Adverse Possesion
  1. 1)Continuous
    1. tacking
    2. privity
  2. 2) Actual
    1. possession and use
  3. 3) Visable
    1. appearance of ownership
  4. 4)Exclusive
    1. no simultaneous use by owner
  5. 5) Hostile
    1. wrongful possession
  6. 6) Open and Notorius
  7. Disability to recover defenses
2. Lateral/Subjacent Support
  1. rt to have land supported in natural state by adjacent landowner
  2. liable for damage if building collapse would occur in nat. state
  3. rt to have land supported in natural state by owners of underground interest
  4. liable for damage if collapse would occur in nat. state
3. Water Rights
  1. Riparian rt to all domestic water use
  2. commercial use limited to reasonable
  3. prior appropriation/first come first serve
Conveyancing
1. Record by Statute
2. Deeds
3. alienation
4. requires a writing
5. wills
Mortgages

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Classification of Interests in Real Property

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	Erstellt von lcushman vor etwa 11 Jahre